SINGAPORE: Troubled Singapore computer education provider Informatics Holdings Ltd said yesterday it has agreed to place 62.7 million new shares at 25 Singapore cents each to an investment unit of Indonesian-born tycoon Oei Hong Leong.
Oei's Chip Lian Investments Pte Ltd, which already owns 8.29% of Informatics, will pay S$15.7mil for the new shares.
The placement price represented a 15% discount to Informatics' weighted average share price traded on Thursday, the company said.
Oei, sometimes described as Singapore's version of American investment sage Warren Buffett, snapped up shares in Informatics earlier this month after the company's stock price plunged as much as 70% following its admission that it had overstated its earnings. – Reuters
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